Quote:
Originally Posted by BOOOOM!!!!
Thanks EndTheFed.
I greatly appreciate all youve done in this thread. Im realyl starting to see that this is a much easier process than I initially anticipated
So the wallet I downloaded is Bitcoin core.
https://bitcoin.org/en/download
Is that just as good or pretty much the same thing as blockchain.info?
Agree with what FullTiltMode said about the Bitcoin core client.
If the only thing you want it for is as an intermediary wallet between Coinbase and WPN... then Blockchain.info will work fine. It's easier to use and you don't have to worry about downloading anything.
Blockchain.info actually doesn't have your private keys either, so they never have control over your bitcoin.
Quote:
Originally Posted by e i pi
wow coinbase has a significant delay on getting your bitcoins and they lock you in on the price? I like how they sell it as a good thing when in reality if the price tanks over night as it has a few times before, you're pretty much screwed. I expected as much for going btc->poker but betting on the price staying stable over 2 days seems much more reasonable than 1week+.
Anyone have any experience with the more traditional bitcoin exchanges where you can keep dollar amounts on the exchange? That would seem to reduce the risk considerably because you only need to hold btc for a few hours before getting them to dollars. Bitstamp looks like it has a good reputation but I'm not sure if they take americans.
Right, Coinbase is selling you bitcoin that they have at the current price... but they won't release it to you until your bank transfer shows up.
There have been times where they ran out of bitcoin to sell and would take your money today, and then give you the exchange rate to be determined in a few days. For someone depositing $ on to WPN that works fine, but people that wanted a specific bitcoin amount complained.
Coinbase does have an option like you're talking about, but it's only available in these states so far:
They call it a "USD Wallet".
You pre-load your Coinbase account by sending money from your bank first, and when it gets there you can use it to buy bitcoin and they'll release it to you instantly.